Insights Into The Silicone Resins Market’s Growth Opportunities Through 2023-2032 – Includes Silicone Resins Market Size
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An increase in the number of construction-related projects is expected to drive innovation in silicone resins manufacturing, driving the market during the forecast period.
The global silicone resins market is expected to grow from $3.81 billion in 2022 to $4.08 billion in 2023 at a compound annual growth rate (CAGR) of 6.90%. The silicon resins market is expected to reach $4.98 billion in 2027 at a CAGR of 5.15%.
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Global Silicone Resins Market Segments Include:
- By Type: Methyl Silicone Resins, Methylphenyl Silicone Resins, Other Types
- By Function: Binding Agents, Impregnating Agents, Hydrophobic Agents, Release Agents, Modifiers
- By Application: Paints And Coatings, Adhesives And Sealants, Elastomers, Other Applications
- By End User: Automotive And Transportation, Building And Construction, Electrical And Electronics, Healthcare, Industrial, Other End Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global silicone resins market in 2021.
Major Market Players in the silicone resins market include Wacker Chemie AG, Dow Corning Limited, Shin-Etsu Chemical Corporate Limited, Evonik Tego Chemie GmbH, Bluestar Silicones Ltd., Kaneka Corporation.
Creating new silicone resin formulations is a key trend that is gaining traction in the silicon resin market. The creation of silicone resins functionalized with novel reactive groups and components that can offer previously unattainable qualities is referred to as the development of new silicone resins. To maintain their market position, major silicone resin players are focusing on developing new silicone resin formulations. For example, in January 2022, B9Creations, a US-based advanced manufacturing and 3D printing company, launched BioRes – Silicone, an innovative elastomeric resin. BioRes – Silicone is a biocompatible 3D printing material with medical and consumer technology applications for skin contact items. The medical-grade silicone from B9Creations is International Organization for Standardization (ISO) 90993-approved for extended skin contact and offers a unique combination of biocompatibility, high accuracy, surface quality, and rip resistance.
The Silicone Resins Global Market Report 2023 provides a silicone resins market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The silicone resins market forecast analyzes silicone resins market size, silicone resins market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Silicon resins are inorganic polymers that can be moulded into fixed shapes, sheets, or fibres to prevent corrosion on metal surfaces. Because of their flexibility and heat resistance, silicon resins are commonly used in the manufacture of heat-resistant paint, coil coatings, and mixed resin systems.
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